Author: Legal Parivar

India’s brokerage industry has urged retail traders to square off intraday positions by 3:00 PM following the first day of the Closing Auction Session (CAS), after an unexpected divergence between cash market prices and futures contracts created confusion across Dalal Street. The advisory comes as traders adjust to SEBI’s new market-closing framework introduced on August 3. Several brokerages have asked clients to avoid holding fresh intraday positions beyond 3 PM until market participants become familiar with the new closing mechanism. According to brokerage officials, the transition period could lead to temporary pricing anomalies, especially in stocks that are part of…

The Government of India has increased the windfall tax on exports of petrol, diesel and aviation turbine fuel (ATF), with the revised rates taking effect from August 3, 2026, as part of its periodic review of export levies on petroleum products. The decision was announced through notifications issued by the Finance Ministry. Under the revised structure, the export duty on petrol has been raised to ₹3.5 per litre, while the levy on diesel has increased sharply to ₹25.5 per litre. The export tax on aviation turbine fuel (ATF) has also been increased to ₹22 per litre, reflecting the government’s effort…

The Securities and Exchange Board of India (SEBI) has extended the deadline for Investment Advisers (IAs) and Research Analysts (RAs) to enrol with the Past Risk and Return Verification Agency (PaRRVA) by one month, providing additional time for compliance with the new performance verification framework. The enrolment deadline has been revised from August 3, 2026, to September 3, 2026, following requests from industry participants and PaRRVA for additional time to complete the registration process. SEBI said the extension is intended to facilitate a smooth and seamless implementation of the framework. What is PaRRVA? PaRRVA is SEBI’s newly operationalised framework designed…

Mahanagar Gas Limited (MGL) has announced Tuesday, August 18, 2026, as the record date for determining eligible shareholders for its proposed final dividend of ₹18 per equity share for the financial year 2025-26. The company informed the stock exchanges that the dividend recommendation, announced by its Board of Directors on May 7, 2026, remains subject to shareholders’ approval at the Annual General Meeting (AGM) scheduled for August 25, 2026. ₹18 Final Dividend Proposed for FY26 MGL has proposed a final dividend of ₹18 per equity share with a face value of ₹10 each, representing a 180% payout for FY26. If…

Healthcare technology company Inventurus Knowledge Solutions Limited (IKS) has announced the execution of a syndication agreement to broaden the lender base supporting the financing of its previously announced acquisition of TruBridge, Inc. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows the company’s earlier announcements made on April 23, July 2, and July 3, 2026, regarding the acquisition and related financing arrangements. Syndication Agreement Strengthens Acquisition Financing According to the filing, the syndication agreement was executed on August 3, 2026 between Inventurus Knowledge Solutions Limited, its wholly-owned subsidiary Inventurus Knowledge…

KEC International Ltd., the flagship infrastructure engineering, procurement and construction (EPC) company of the RPG Group, has secured new orders worth ₹1,063 crore across multiple business segments, strengthening its order pipeline despite ongoing global economic uncertainties. The latest order wins span the company’s Civil, Transmission & Distribution (T&D), Renewables, and Cables & Conductors businesses, reflecting KEC International’s diversified project portfolio and continued expansion in both domestic and international markets. KEC International Wins Major Residential Project The company’s Civil business has secured a significant high-rise residential project from a leading real estate developer in Northern India. The project involves the construction…

Nazara Technologies Ltd. (NSE: NAZARA) has announced its Q1 FY27 financial results alongside several strategic decisions that strengthen its global gaming expansion, leadership succession, and portfolio investments. The announcements were approved at the company’s Board meeting held on August 3, 2026. The company also approved revised acquisition terms for Spanish gaming studios, increased investment in its entertainment business, appointed a new CEO, and strengthened its subsidiary ecosystem. Key Highlights Raymond Albaladejo Stauffer Named CEO One of the biggest announcements was the appointment of Raymond Albaladejo Stauffer as the Chief Executive Officer (CEO) of Nazara Technologies. His appointment will become effective…

State-owned Oil and Natural Gas Corporation (ONGC) will earmark half of its upcoming 1.75 million-tonne petroleum storage facility in Mangaluru for India’s Strategic Petroleum Reserve (SPR), while the remaining capacity will be utilized for commercial operations, the Central Government informed Parliament on Monday. The announcement was made by Minister of State for Petroleum and Natural Gas Suresh Gopi in a written reply in the Rajya Sabha, highlighting the government’s continued efforts to strengthen India’s energy security amid global geopolitical uncertainties and volatile crude oil markets. 1.75 Million-Tonne Facility to Serve Strategic and Commercial Needs According to the government, ONGC is…

MITCON Consultancy & Engineering Services Ltd. has announced that its subsidiary, MITCON Credentia Trusteeship Services Limited, has remitted subscription money to invest in two newly incorporated wholly owned step-down subsidiaries. The disclosure was made on August 3, 2026, under **Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The strategic investments are aimed at expanding the group’s presence in repository services and ancillary corporate support and secretarial services, strengthening MITCON’s financial and corporate services portfolio. Investment in Two Wholly Owned Step-Down Subsidiaries According to the stock exchange filing, MITCON Credentia Trusteeship Services Limited has completed subscription payments…

A Joint Parliamentary Committee (JPC) reviewing the Corporate Laws (Amendment) Bill, 2026 has recommended that the Ministry of Corporate Affairs (MCA) ensure proposed amendments to the Companies Act do not unintentionally expand the powers of the National Financial Reporting Authority (NFRA) in a manner that weakens the statutory role of the Institute of Chartered Accountants of India (ICAI). The committee emphasized that the legislative framework should preserve a harmonious coexistence between the two institutions, allowing NFRA to continue its corporate financial oversight role while leaving professional development, standard-setting foundations, and core professional matters within ICAI’s statutory mandate under the Chartered…